Rumble Inc. (NASDAQ:RUM) Short Interest Down 14.3% in April

Rumble Inc. (NASDAQ:RUM - Get Free Report) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 12,500,000 shares, a decline of 14.3% from the March 31st total of 14,580,000 shares. Based on an average trading volume of 6,220,000 shares, the short-interest ratio is presently 2.0 days. Approximately 19.1% of the shares of the company are short sold.

Rumble Trading Up 6.1 %

Shares of NASDAQ:RUM traded up $0.40 during trading on Monday, reaching $6.93. The company had a trading volume of 1,346,935 shares, compared to its average volume of 5,535,525. Rumble has a twelve month low of $3.33 and a twelve month high of $11.25. The firm's fifty day moving average is $7.03 and its 200 day moving average is $5.81.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.08. The company had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. Rumble's revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. As a group, analysts anticipate that Rumble will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer restated a "market perform" rating on shares of Rumble in a research note on Thursday, March 28th.

Insider Buying and Selling at Rumble

In related news, Director David O. Sacks sold 133,896 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $6.45, for a total transaction of $863,629.20. Following the completion of the transaction, the director now owns 3,390 shares in the company, valued at approximately $21,865.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rumble news, Director Robert Arsov sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $7.21, for a total value of $288,400.00. Following the sale, the director now owns 15,423,914 shares in the company, valued at $111,206,419.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the sale, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The disclosure for this sale can be found here. Insiders sold a total of 1,683,896 shares of company stock worth $11,821,229 over the last ninety days. Company insiders own 72.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in Rumble by 1,100.0% during the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company's stock worth $48,000 after buying an additional 5,500 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company's stock valued at $55,000 after acquiring an additional 6,350 shares in the last quarter. Principal Securities Inc. acquired a new position in Rumble in the 4th quarter worth approximately $32,000. Signaturefd LLC purchased a new position in Rumble during the 4th quarter worth approximately $32,000. Finally, Solano Wealth Management Inc. purchased a new position in Rumble during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 26.15% of the company's stock.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.